Look ahead: Oracle; FirstGroup; UK jobless rate; Australia business confidence
Ahead of the FOMC economic projections and US Federal Reserve meeting, FX traders might find volatility in the pound and the Australian dollar ahead of the latest UK jobless print and business confidence reading from Down Under.
Oracle is expected to post earnings of $1.65 a share. FirstGroup releases FY earnings.
(AI Video Summary)
Australia and UK data figures
Angeline Ong discusses the upcoming financial indicators and market movements for Tuesday, 11 June. Key points include Australia's NAB business confidence, UK's steady unemployment rate at 4.3%, and potential impacts on the Conservative Party due to the upcoming election. Ong highlights the volatility in the GBP/USD exchange rate, predicting possible British pound weakness tied to US economic signals and Federal Reserve actions.
Oil and earnings report updates
Additionally, she mentions US API crude oil inventories with possible bullish reversal signals for WTI crude oil. Corporate earnings from Oracle and FirstGroup are also highlighted, with Oracle showing a 14% year-to-date gain, outperforming the S&P 500. These insights cater to finance professionals tracking market indices, currency fluctuations, and economic indicators.
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